The Mesoblast Ltd (ASX: MSB) share price soared 10.6% to an intraday high of 44 cents on Wednesday amid no news from the biotech company.
Mesoblast shares are currently trading for 43.5 cents apiece, up 10.1% for the day so far.
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What's pushing the Mesoblast share price higher?
It's likely that ASX Mesoblast shares are simply following the lead of their NASDAQ counterparts today.
The Mesoblast Ltd (NASDAQ: MESO) share price rose 8.82% overnight to close the session at $1.48 per share.
The Nasdaq Composite (INDEXNASDAQ: .IXIC) rose 0.061%, while the Dow Jones Index (INDEXDJX: .DJI) fell 0.051%.
There has been no price-sensitive news from Mesoblast since its shock announcement of another FDA knockback on its flagship remestemcel-L drug on 8 August.
The Mesoblast share price fell by almost 60% after the United States Food and Drug Administration (FDA) requested another round of testing.
Mesoblast is expecting to meet with the FDA to design the next study by mid-September.
Mesoblast received its first FDA knock-back in October 2020.
Investors then had to wait almost three years while the company carried out further tests, reapplied for approval, and received the FDA's decision.
